The New York Giants were able to clear $5.98 million in cap space by converting $8.965 million of cornerback Adoree’ Jackson’s contract into a signing bonus.
All NFL teams resort to this strategy, especially if they need to create cap room because signing bonuses do not count against their hard cap policy.
For the 2022 season, the league established the cap ceiling at $208.2 million.
Teams may go under it, but their total cannot exceed that number.
Before the restructuring, the Giants had a cap space of less than $1 million, no thanks to the deals given by former general manager Dave Gettleman.
Yet even with Jackson’s revamped contract, the Giants only have $6.7 million in cap space.
That’s not enough for their remaining liabilities, as SNY NFL insider Ralph Vacchiano pointed out.
This still isn't nearly enough for the Giants to avoid moving James Bradberry, which would clear $12.1M off the books.
They need $12.5M just for their draft class and probably another $8-10M for practice squad players, injury replacements, etc. Restructures were inevitable.
— Ralph Vacchiano (@RVacchianoSNY) April 4, 2022
In response to ESPN’s Field Yates’ tweet, their current cap space isn’t enough for their upcoming expenses.
He added that the Giants would need at least $20.5 million to pay their draft picks and practice squad players.
Therefore, the team still needs to clear around $14 million to address its financial liabilities.
Avoiding Bradberry’s Release
Releasing James Bradberry brings them closer to their target.
Unfortunately, doing so is like a death sentence to their season.
Letting go of the 2020 Pro Bowler further weakens their defensive secondary, which is already problematic.
Current Giants general manager Joe Schoen describes Jackson’s restructuring as a “last resort.”
Sadly, they must find ways to create more cap space unless they accept that Bradberry is their final ace.
Having him play elsewhere is challenging, mainly because the Giants won’t get any asset in return.
They can try to trade him and make sure that the other team will pay for his entire 2022 salary.
But teams might be confined to draft a defensive back because the 2022 class is deep in that position.
NEXT: Brian Daboll Discusses His First Day With His New Giants Players
Mitchell Bookbinder says
Exchange one of our two 5th round picks for KCs 2nd or 3rd round pick, eat some of the dead money ,draft new corning in round 2 or 3 and be done with it. We will still save aorund 12M in cap space and get a new young coner for the rebuilt.